Yes, see the video I posted today covering the semis; Many at price targets/support levels so either a pure-play long bounce trade on those and/or an indirect hedge to any index shorts as it the stark divergence between the semis & $NDX is unlikely to continue much longer: Either semis up or Nasdaq down.

I agree. It looks like QQQ is gunning for the August 2022 highs, and maybe eventually up to around 348 before all is said and done.

You could be right but the problem is if the market tanks big time today or tomorrow, it will be difficult to short after QQQ already tanks 5% because at the moment the risk to reward might not be favorable.

Good rant! I hear ya. To counter a bit, I think the fact that there are only 10 or fewer stocks holding up the market is what could cause some nasty volatility soon. I said it last week and I’ll say it again, I think we need to wait until after AAPL earnings for a more broad-ranged sell event. With nearly every other sector showing a lot of weakness still (even XLE is breaking below its 200MA today), it’s just a matter of time before profit-taking in mega-caps begins to bring SPY and QQQ down along with the rest of the market. I do think there’ll be a summer bounce, though, after that sell-off, and that a bigger leg down in markets doesn’t begin until well into Q3 or Q4.

I think market will eventually go down but before that QQQ could rally another 6% to $335 zone and form a bigger divergence!

I was short on Meta on the break down of the trend line which is at $213 I wonder if I should take the Loss here of 12%. The other Stop Loss zone could be at $250. If Meta hits $250 lot of stop loss could be triggered short squeezing which could result on stronger rally :(

If Meta decide to fill the GAP, it could rally another 20% to $290 which I don’t think will happen but the Bear Market Rally could be very devastating!

Yeah, probably safer to just be long QQQ, rather than SOX or other semiconductors. It’s the mega-caps that are holding the most strength. Nice to see some bullish follow-through in MSFT and GOOGL today. Maybe get long QQQ and stay short semiconductors would be a better play…

im sensing the russell is going to be the worst performer
over the next few weeks.. today is def the case

excellent call by randy.. i give credit when its due and the other
way around also… i closed my short on SOXX waiting for a new entry
point .. not so brave as you jeff to go long..??